“With the new day comes new strengths and new thoughts”
- Eleanor Roosevelt
It's the last day of 2018! Before we bid our goodbyes to this year, let's take some time to reflect on what came to be this year. 🤔 We saw many unfulfilled promises from the projects that sprang from the prior year's ICO boom. Many promised to deliver revolutionary technology at groundbreaking pace, unsurprisingly failed to do so 🤷, and kicked the bucket unable to withstand the brutal bearish downturn. 2018 also saw the emergence of numerous stablecoins, an exciting development as it bridges the gap with the fiat world. 👍 We also experienced lots of heartbreak with the various ETF proposal rejections 💔, but brimmed with excitement as we witnessed institutions enter the fray, such as Fidelity Investments' launch of a trade execution desk and custody solution, and large university endowment funds from universities like Yale, Harvard, Stanford and MIT getting their hands wet 🤩. I am confident that 2019 will an exciting year for the crypto space. Heck, if 2018 saw a country issuing a national cryptocurrency, who knows what 2019 has in store for us with all the infrastructure development progress of 2018. 👀 So do continue to tune in to this newsletter and join me on this roller-coaster ride. Bring it on 2019!!! 👊
In today's newsletter, we will be covering the Italy's Ministry of Economic Development assembling 30 experts of various fields to develop the nation’s blockchain strategy, Singapore crypto exchange Switcheo now supporting the Alchemist launched dollar-pegged SDUSD stablecoin and Bitmain CEOs Jihan Wu and Micree Zhan rumored to be getting retrenched in the company's current restructuring.
Please don't forget to answer the polls down below too! It's a great way for us to interact with you all and hear what you have to say. 💭 Happy reading! 📚
Odds stacked against us 🎲
In the last weekend of 2018, we saw total market capitalization recover from ~$120.4 billion on Friday to ~$128.6 billion 📈, and BTC dominance drop 1% point from ~52.9% to ~51.9%.
Over the weekend, BTC hovered within a $160 range of ~$3,800 and ~$3,960, and is currently trading at ~$3,820. It traded along its 21-day EMA line on its daily chart, and also held its RSI levels in the ~48 to ~49 levels. From a price action perspective, it wasn't too exciting a weekend. 😴
As we head into 2019, the overall momentum still remains with the bears and it is likely that we have still yet to find the bottom of this bearish cycle. 🐻 On the weekly chart, BTC is trading below all 21, 50, 100, and 200 EMA lines and RSI levels continue indicate persistent bearish momentum, In all, there is still no sign of a trend reversal for now. 😔
The A-team 💪
The Ministry of Economic Development of Italy has published a list of 30 experts that will work together to develop the nation’s blockchain strategy. 👬 They will attempt to identify the potential use cases for blockchain in the public and private services, and develop the necessary technical and regulatory tools to promote adoption.
The pool of expertise spans across areas such as blockchain tech, business, academic research, computer science, and law. 🤓 Some of the more notable individuals of the newly formed team include Angiolini Giorgio (Italtel marketing portfolio head, UN INFO blockchain group member), Monaco Marco (blockchain competence center leader at PWC Italy), Pimpinella Martino Maurizio (Italian Association of Paying Services Providers President) and Vitale Marco (Quadrans Foundation president). 👀
According to Italy’s deputy prime minister, Luigi Di Maio, "Emerging technologies such as artificial intelligence and blockchain are destined to radically change our (their) lives, the society in which we (they) live and the economic and productive fabric of the country. We have to decide which way to go.” 📢
Same same but different 🧐
Singapore crypto exchange Switcheo has announced that it now supports the Alchemist launched dollar-pegged SDUSD stablecoin which will hold the value of $1 and be locked to NEO. 💲
The NEO/SDUSD pair is now made available for trading on the Switcheo Exchange. According to the official press release by Switcheo, SDUSD is the first fiat-pegged stablecoin with NEO, and will be stabilized at $1 through the collateralization of NEO smart contracts. 😲
According to Chinese media outlet Odaily, Beijing-based Bitcoin mining equipment manufacturer Bitmain is looking to relieve its CEOs Jihan Wu and Micree Zhan (representing interests from the Jenke Group) of their duties as part of the ongoing restructuring in Bitmain, which could also see an individual with the last name "Wang" assume the position. 😲
According to sources, just last month Jihan Wu was reportedly demoted from the board of directors to a ‘supervisor’ position. In that time, he also banded with Roger Ver of Bitcoin Cash (ABC) to wage a hash war that resulted between factions within the Bitcoin Cash community. Wu caused his company to assign its surplus Bitcoin mining power in support of the Bitcoin Cash variant ABC, an alliance which eventually cost Bitmain millions of dollars. As for Zhan, it is reported that he took the blame for Bitmain’s poor performance in Q3, and accepted that his management skills didn’t help the company much. 👀
Other news 📰
According to a Chinese survey conducted by PANews of 4,200 people, approximately 40% are willing to invest in crypto in the future. 😄
According to technology news website TheNextWeb, white hat hackers (ethical hackers/ computer security experts who specialize in penetration testing to ensure security of systems) have been awarded $878,000 in bug bounties this year. 💰
Crypto exchange Kraken has added margin trading support for Bitcoin Cash (BCH) and Ripple (XRP). 🤖
Poll of the Day
On a scale of 1-10 (10 being most enjoyable), how enjoyable was the crypto space for you in 2018?💭
And...what is your fondest crypto memory of 2018? Also, what would you like to see happen in the crypto space in 2019? Share with me in the polls! 😆
What you said
"On a scale of 1-10, how confident are you to commit to your new year resolutions for 2019?" 💭
The average vote was 6.2. Let's face it, new year resolutions sure are hard to keep. 😂
"What are your new year resolutions for 2019?"
You guys said:
Need to quit smoking 🚬 I’d like to continue to invest diversity is key 🔑 📈 - Those bad boys sure are hard to quit. 🚬I'll definitely be rooting for you though! 👍 Travel to the Baltic Republics for my 50th anniversary (I was born in 1969). It's a place I've always wanted to meet! And keep learning languages, go to the beach in summer, take photos ... Although I work 45 hours a week, rationalizing time can do many things... - Definitely take that vacation and learn those new languages, or you'll regret not taking your shot later on! 50th anniversary, wow. People like you make me believe that true love ain't just a pipe dream. 💕 More riches - May 2019 be a prosperous year for all of us! To the moon! 🚀Confidence - Working out and improving your physique is a great way to boost your confidence. Perhaps you could incorporate more exercise into your 2019 routine! 💪 I have never really made new year resolutions.. if i think there is something which i should do or not do, i try to take it up asap. - It's definitely a good idea to have some goals! 🎯 To make one more baby. - All the best! Keep shooting your shots! 🏀 Vacation and relax more - Something I believe the entire world needs more of. 🤔 Health, Happiness and watch EOS and Ripple soar - To the moooooooon! 🌝 Having pleasant and sustainable passive income, married, watching live my favourite football team miles away from where i live now. - Sounds like 2019 is gonna be an exciting year for you. Awesome! Improve body mind and spirit- and dollar cost averaging- buying bitcoin ethereum and litecoin - Personal development is what it's all about. It's great that you're accumulating at a time when everyone is doubtful. I believe it will pay off well eventually. 🤑
"What are your plans for the final weekend of 2018?"
You guys said:
Take stock of the year 2018 and plan for 2019 - The 5 'P's": Proper planning prevents poor performance. 🤓 Buy crypto - The accumulation never stops... 💰 Travel - Ooo I'm jelly. 💚 Spending time at home with family. - Never a bad idea. 👍 Practice making the baby! - Ayyy, that's what I'm talking about! 😜 Play golf, spend time with value friends and promote Hiatus - Chill vibes only
Saving money - Come on...It's okay to let loose once in awhile. Join everyone in the festivities! 🤗
Celebrate - Time to usher in the new year!!! 🙌
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
See you again next year! 😉 😍 our newsletter? Share with a friend! 😡 our newsletter? Spam your enemy!